TLDR
- The S&P 500 and Nasdaq traded near record highs, buoyed by strong earnings and AI momentum.
- Snowflake stock rose more than 35% after beating earnings and announcing a $6 billion AWS deal
- Unusual Machines shares jumped as much as 67% after reports of possible funding for drones from the Pentagon.
- Oil prices swung sharply, with Brent crude approaching $93 before retreating on reports of peace talks between the US and Iran.
- Chip stocks, including Marvell and AMD, remained active as investors turned to AI infrastructure
Wall Street rose on Thursday as strong corporate earnings and optimism about artificial intelligence held investor confidence steady. The S&P 500 and Nasdaq traded near their record highs during the session.
oil The allowance was today. Brent crude briefly touched $93 per barrel after renewed military tensions related to Iran. Prices later fell after reports suggested the United States and Iran may be moving toward a tentative peace deal.
Investors are watching oil closely. Rising crude oil prices could cause inflation to rise again and complicate the Federal Reserve’s interest rate plans.
Snowflake shares rose 35% on earnings beat and AWS deal
The biggest single story of the day was Snowflake. Shares of the cloud data company rose more than 35% after it reported earnings that beat Wall Street estimates and raised its full-year revenue forecast.
Snowflake also announced a five-year term Artificial intelligence infrastructure Agreement with Amazon Web Services. The deal is reportedly worth around $6 billion.
The findings helped allay fears that artificial intelligence could hurt traditional software companies. Snowflake management said demand for AI-related services is accelerating, not slowing down.
The gathering spread to other software names. Shares of Oracle, MongoDB, and ServiceNow rose after the Snowflake report.
Many software stocks have suffered through 2026 due to concerns that AI tools could disrupt current business models. Snowflake’s results pointed in the opposite direction, with AI appearing to be driving growth rather than replacing it.
Drone stockpile explodes after Pentagon spending reports
Defense and Stocks related to drones It saw sharp gains on Thursday. Reports have emerged that the US government may increase funding support for domestic drone manufacturers.
Unusual machines It jumped as much as 67% during the session. The move was linked to reports linking the company to potential spending initiatives at the Pentagon.
The gathering spread throughout the wider sector. Investors also moved into AeroVironment and Kratos Defense & Security Solutions as traders looked for companies that could benefit from rising military and surveillance spending.
Geopolitical tensions in the Middle East have increased investor interest in defense technology stocks. Analysts say the drone sector has become one of the fastest growing topics in the market as governments raise defense budgets.
Chip stocks remain active as AI trade continues
Chip stocks remained active throughout the day. Marvell technology It rose after announcing profits that exceeded Wall Street expectations.
Advanced micro-devices have surged as investors continue to shift into AI infrastructure games.
The session reflected a market that remains largely focused on AI growth and earnings momentum. Oil prices and the situation regarding Iran remain risks that investors are closely monitoring.
For now, strong corporate earnings continue to support the broader market’s rise.
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